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It's not that I've been living under a rock. On the contrary I like to keep myself abreast of trends in the local real estate market. However, I can recall for a very, very extended period of time Scranton had a stable housing market that ranged generally from around 180-220 single family homes on the MLS at any given point in time, with 200 being more typical. To see that skyrocket to well over 300 in such a short lapse of time is more than a bit disheartening.
Dan, if this had gone from 200 to 215 to 235 to 250 to 265 to 280, etc. on a monthly basis then I would be a bit less surprised. Seeing that number increase by 50% from just over 200 to over 300 in such a brief period of time is just unconscionable. Scranton has traditionally been a healthy real estate market. We were too far "dead" in the 1990s to enjoy the benefits of the "bubble" that escalated housing prices just to our south and east in the BosWash Corridor. It was a case of the "tortoise and the hare." We continued upwards at a very, very slow pace whereas the other areas skyrocketed past us. A couple of years ago those areas started crashing into oblivion whereas up until recently we were still gaining momentum (hence why we were rated last year as having the nation's fourth-hottest real estate market). Seeing that startling jump in listings on the MLS suggests to me that our area, which for years was immune to changes in the national housing market, is no longer untouched. I worry that after years of enjoying very modest annual appreciation, local housing values may start to flatten out.
By the way, the economy is not "bad." I work at Lowe's Home Improvement, and if our economy really was in the toilet then I wouldn't be pulling my hair out on weekends being unable to keep pace with the volume of high-paying customers. I also wouldn't be stopped at red lights here in Pittston on roadways where 95% of all vehicles are newer models. I wouldn't drive by chain restaurants at 6:30 PM on Friday to see packed parking lots and lines extending out the door. I agree with another recently-maligned economist who referenced Americans as a "nation of whiners." We really are. If the economy was suffering, then people SHOULD be tightening their belts, should they not? As an aspiring CPA I just want to say "no" when I'm about to make a sale and then see someone reaching for their credit cards. Just yesterday I sold a lawn mower to a man who claimed he was "broke" and had to break the transaction down amongst two credit cards and cash. He then pulled up in a Volvo of all things. That's what's become of our nation. People cry poverty from their cul-de-sacs and from inside their SUVs whilst fiddling with their iPhones and Garmins.
I don't buy the argument that the recent uptick in inventory on the Scranton MLS is due to a faltering economy when I don't see any vestiges of economic hardships around me. There has to be another explanation for it.
Scran, the vestiges of hardship are everywhere. people are struggling to make ends meet, maybe not eh shoppers at lowes, bu around the country it is a different story. It will get worse before it gets better...
NY the reason why certain people will argue with you is not your facts or the rationale of what you are saying, but rather your delivery.....By saying simply"Scranton is a dying city" is empty and vapid. OK, it is dying, we all get that, but people who are alive live there and are not moving and you are directly insulting them just as much as doherty is insulting them by saying it is vibrant.
I am not saying you are right or wroing, but rather when issueing your points, remember that everything is not linear, right or wrong, black and white.
My intention was not to come across as insulting. I was saying the "city" itself was dying, not the people. Thanks in part to Mayor McCheese. I guess my delivery may be a little harsh, but I do believe I'm being honest.
What I don't understand though, Ed, is why do people like you, Dan, the Legion of Doom, Doherty Deceit, etc. take pride in your city's chronic malign? I personally have a sour taste in my mouth for Pittston after living here for nearly 22 years and seeing nothing but air residing inside of the heads of our elected officials, but if someone from a national publication called us an "armpit" I'd join my fellow townspeople in refuting that claim. When Forbes listed Scranton amongst such nefarious places as Youngstown, Detroit, and Buffalo for being one of the nation's "fastest-dying cities" there was no outcry. People in Scranton just took it at face value, shrugged their shoulders, and went on their merry little ways. Some even laughed and beat their chests as if they were actually proud of the embarrassing distinction. The same could be said for when we were rated runner-up for "Armpit of America" in the 1990s. WHY? Don't any of you in the Electric City still have any semblance of civic pride left? I just took a stroll over to Doherty Deceit, and I must say that after perusing the threads for a half-hour my stomach turned sour (and not just due to the butchering of the English language from everyone except for Mr. Pilchesky himself). It seems as if not one person has one kind thing to say about the city. When your city becomes overrun with people who can't look beyond a pothole to see a tree lawn nearby to put a smile upon their face, then your city has begun to lose its soul.
It's one thing to harbor animosity towards elected officials who you deem to be accountable for your city's impending collapse (which I can respect you for). It's another thing entirely to become so blind-sided by that anger and frustration with the apathy of the general public towards your city's political machine that your civic pride vanishes altogether. Dan, you're quite guilty of this. Whenever anyone (cough...rumncoke...cough...50something...cough... sheena12...cough) shows even the slightest interest in making Scranton their new hometown, you have to jump in and put the fear of God into their hearts about what a horrible mistake they'd be making and how they'll never forgive themselves. Why? I'm sure there are plenty of people perfectly happy living in the city who are just too lazy to come onto this forum or onto Pilchesky Deceit to help defend its downtrodden image (versaron, FightinPhils, ScrantonVideoProduction, loveinbloom, some of my relatives, etc. come to mind). I happen to be a more soft-spoken critic of the Doherty Administration, but in no way, shape, or form do I deem it necessary to avoid moving to a city based upon incompetent leadership. Pittston Township is run by three people who are lucky to have one high school diploma and a triple-digit IQ amongst them, yet our township's population and popularity is exploding. Obviously people aren't as fazed by political incompetency as you think (need I remind you that in MY community a juvenile detention center was approved because it was mistaken for a day care center and TJ Maxx was permitted to bring hordes of illegal immigrants here working for slave wages?)
Those who foam at the mouth when thinking of Doherty, Gatelli, Fanucci, etc. are merely a "clique"---a loud one at that. The same dozen or so people approach the council podium every week, and the same few dozen members have difficulty forming coherent sentences when posting to Doherty Deceit. That still leaves over 72,000 city residents unaccounted for. Are some angry at the way the city is being run? Yes. Are some content with the way the city is being run? Absolutely. Are the majority just apathetic (sheep, if you will)? More than likely. I really think, Dan, that you overemphasize the importance of Mayor Doherty's mistakes and the impact they will have upon the city's future. If Wilkes-Barre, a city ravaged by a severe flood in the 1970s, massive urban sprawl in the 1980s-1990s, and then a violent crime wave from the late-1990s to early-2000s can finally start turning itself around in 2008 with hundreds of lofts under development, a new riverfront park, new restaurants, new night clubs, etc., then why can't Scranton likewise turn itself around in 2009 when Mayor Doherty is replaced by Mayor Cruella DeVille (Janet Evans)?
It's not that I've been living under a rock. On the contrary I like to keep myself abreast of trends in the local real estate market. However, I can recall for a very, very extended period of time Scranton had a stable housing market that ranged generally from around 180-220 single family homes on the MLS at any given point in time, with 200 being more typical. To see that skyrocket to well over 300 in such a short lapse of time is more than a bit disheartening.
Dan, if this had gone from 200 to 215 to 235 to 250 to 265 to 280, etc. on a monthly basis then I would be a bit less surprised. Seeing that number increase by 50% from just over 200 to over 300 in such a brief period of time is just unconscionable. Scranton has traditionally been a healthy real estate market. We were too far "dead" in the 1990s to enjoy the benefits of the "bubble" that escalated housing prices just to our south and east in the BosWash Corridor. It was a case of the "tortoise and the hare." We continued upwards at a very, very slow pace whereas the other areas skyrocketed past us. A couple of years ago those areas started crashing into oblivion whereas up until recently we were still gaining momentum (hence why we were rated last year as having the nation's fourth-hottest real estate market). Seeing that startling jump in listings on the MLS suggests to me that our area, which for years was immune to changes in the national housing market, is no longer untouched. I worry that after years of enjoying very modest annual appreciation, local housing values may start to flatten out.
By the way, the economy is not "bad." I work at Lowe's Home Improvement, and if our economy really was in the toilet then I wouldn't be pulling my hair out on weekends being unable to keep pace with the volume of high-paying customers. I also wouldn't be stopped at red lights here in Pittston on roadways where 95% of all vehicles are newer models. I wouldn't drive by chain restaurants at 6:30 PM on Friday to see packed parking lots and lines extending out the door. I agree with another recently-maligned economist who referenced Americans as a "nation of whiners." We really are. If the economy was suffering, then people SHOULD be tightening their belts, should they not? As an aspiring CPA I just want to say "no" when I'm about to make a sale and then see someone reaching for their credit cards. Just yesterday I sold a lawn mower to a man who claimed he was "broke" and had to break the transaction down amongst two credit cards and cash. He then pulled up in a Volvo of all things. That's what's become of our nation. People cry poverty from their cul-de-sacs and from inside their SUVs whilst fiddling with their iPhones and Garmins.
I don't buy the argument that the recent uptick in inventory on the Scranton MLS is due to a faltering economy when I don't see any vestiges of economic hardships around me. There has to be another explanation for it.
Paul, very good post. I see the same things you see and wonder to myself, is the economy really in a slide or is it just a myth. I know for myself, I make a decent living, but have bills and expenses just like everyone else and there are times I have to clamp down the checkbook when I want something. I can't afford to go anywhere on vacation, but I see tons of out of state license plates all over Rt.81. I guess a lot of people are living and dying by the all might credit cards. I'm guilty of using them myself, but I really try to use them sparingly. I know gas prices are out of control, but still the same amount of cars on the interstates. And try going to the Olive Garden or Red Lobster on a Friday or Saturday night. Your wait time will be 30 minutes or more. I do know some people are struggling to make ends meet, but I guess the others are making more and spending more and just living for the moment and not worrying about their futures.
Paul, very good post. I see the same things you see and wonder to myself, is the economy really in a slide or is it just a myth. I know for myself, I make a decent living, but have bills and expenses just like everyone else and there are times I have to clamp down the checkbook when I want something. I can't afford to go anywhere on vacation, but I see tons of out of state license plates all over Rt.81. I guess a lot of people are living and dying by the all might credit cards. I'm guilty of using them myself, but I really try to use them sparingly. I know gas prices are out of control, but still the same amount of cars on the interstates. And try going to the Olive Garden or Red Lobster on a Friday or Saturday night. Your wait time will be 30 minutes or more. I do know some people are struggling to make ends meet, but I guess the others are making more and spending more and just living for the moment and not worrying about their futures.
I just don't understand it. The media will interview Jane Doe who will say "I'm a single working mother, and I don't know how I'll afford to heat my home this winter," and then as soon as the camera is off she'll head to Olive Garden and whip out her credit card to pay for her and her children to stuff their faces full of alfredo sauce. You'll read editorials in the local newspapers from senior citizens griping that they don't get enough free hand outs to subsidize their incomes because they didn't have the foresight to save a bit for their retirements, and then you'll see those same people putting $20 bills into the slot machines at Mohegan Sun. You see idiots protesting at the Luzerne County Courthouse with megaphones over their new tax assessment figures, but then you see them retire to their SUVs and head home to their lakefront "cottages" with million-dollar views. At age 21 I drive an older car than anyone else I know, and it's only a decade old! Even my 17-year-old neighbor drives a new Jetta.
I'm happy that to570717 can see the suffering down there in Florida, but up here in NEPA everyone is living on plastic without a care in the world. I hate to say this, but I hope the subprime mortgage meltdown, credit crisis, etc. continue to worsen severely to bring Americans back down to earth. We've become a nation obsessed with acquiring more "stuff" than the Jones's, even if the Jones's earn twice what we do. It's disgusting. That man yesterday who was "broke" yet drove a Volvo took the cake. It's called LIVING WITHIN YOUR MEANS! My partner and I earn about $25/hr. combined, excluding commissions. We can very easily afford to move out on our own and live a very modest lifestyle; we plan to do this in 2009. No fancy new cars, suburban McMansions, iPhones, Ruth's Chris Steakhouse, etc. for us. Just living within our means.
Paul, to reply to your previous post about Scranton, again you make some good points. I guess I've just been soured by the whole experience living in Scranton, that a change would do me good. It's not like everyday I lived here was a living hell, it's not that bad. I'm not a miserable person, though I would like to be in a long term relationship with the opposite sex that is meaningful, but that's a whole different story. I've been in a relationships and none sustained, so maybe that's why I'm a little bitter. If I was living with a significant other, then maybe it wouldn't matter where I lived, I would be happy anywhere.
Paul, to reply to your previous post about Scranton, again you make some good points. I guess I've just been soured by the whole experience living in Scranton, that a change would do me good. It's not like everyday I lived here was a living hell, it's not that bad. I'm not a miserable person, though I would like to be in a long term relationship with the opposite sex that is meaningful, but that's a whole different story. I've been in a relationships and none sustained, so maybe that's why I'm a little bitter. If I was living with a significant other, then maybe it wouldn't matter where I lived, I would be happy anywhere.
I thought you were in a relationship with a woman from the Newfoundland area? I'm sorry to hear that didn't work out.
I thought you were in a relationship with a woman from the Newfoundland area? I'm sorry to hear that didn't work out.
Yes, actually South Sterling. We were engaged, but she called if off last year. We still remain good friends and we work together, but it's not the same. I thought she was the ONE. But thanks for the kind sentiments. We better get back on topic now, this isn't the relationship forum. LOL
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Even my 17-year-old neighbor drives a new Jetta. 
